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2023 Outlook: Trends and Challenges Restaurants Will See, Part One

Modern Restaurant Management

Consumers are realizing it’s a delicious wine with a good price point. Collaborations : Collaborations, such as partnering with a well-known designer on staff uniforms or bringing in guest chefs for special events and pop-ups, will continue to capture consumer attention. " – Robin Gagnon, We Sell Restaurants. "When

Pricing 167
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Understanding Restaurant Finances & Financial Statements in 2024

7 Shifts

Components of a restaurant’s financial report The food and beverage sales report, prime costs report, inventory report, profit and loss (P&L) statement, and cash flow statement are all critical components of a restaurant's financial management. This way, you can decide whether you need to raise your prices or not.

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Average Check Size: How to Manage It in Your Restaurant Business

Synergy Suite

It includes expenditures on food, beverages, and any additional services, such as appetizers, desserts, or add-ons. This metric provides insights into your restaurant’s pricing strategies, menu composition, and upselling techniques. This information helps in fine-tuning menu composition and pricing strategies.

Pricing 52
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Restaurant Sales and Revenue Data: What It Is, and How to Use It

Synergy Suite

It represents the total income generated from selling food, beverages, and other services. Revenue is the lifeblood of any restaurant business. Just like with any business, understanding and effectively managing restaurant sales and revenue is crucial for long-term success. This helps identify strengths and areas for improvement.